CGT due on Swiss assets in estate?

[Rows Mum]

Deceased UK domiciled with Swiss investment portfolio. Beneficiaries resident abroad. Apparently under Swiss law, portfolio vests in beneficiaries at death. Do Executors have to pay CGT on gains when portfolio liquidated? Or can the portfolio be said to have been appropriated to beneficiaries at date of death?

Thank you.

[mullet]

All assets owned at date of death are uplifted to market value at date of death with no CGT liability ever for the deceased, and no CGT liability at that point for the executor or beneficiaries. The potential CGT position is as follows:

1. Assets passed direct to beneficiaries pass at market value at date of death with no CGT liability arising on the executor.

2. Assets being liquidated are exposed to CGT (liability falls on the executor) with gains (in simple terms) being calculated as disposal consideration less market value at date of death.

Check the will to see whether the investments or the liquidated proceeds pass to the beneficiaries, then decide the CGT treatment.